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Thread: Trump's Trade Wars

  1. #21
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    Quote Originally Posted by Pork Chop View Post
    The Chinese have just introduced the Yuan as a reserve currency.

    Taxcutter says:
    They devalued it by 8% late last year of early this year.


    Quote Originally Posted by Pork Chop View Post
    Yes, it’s true that America can’t cover its debt with gold...

    Taxcutter says:
    Neither can anybody else.

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    China is still letting the yuan sink to maintain their price advantage.

    https://economictimes.indiatimes.com...w/63691859.cms

    Notice the date.

    If Europeans bankers are loading up on yuan, they can get a real bargain on Venezuelan bolivares.


    How much gold is there in the world. Warren Buffett says if you melted it all down and cast it into a cube it would be about 20 meters on a side. Rough 171,000 tons. The most optimistic estimates says that is worth about a trillion dollars.

    https://www.bbc.com/news/magazine-21969100

    World GDP is about $78 trillion (if you believe Wikipedia). So all the gold ever mined would only cover about 1.3% of world economic activity if you could keep all that gold in motion.

    So, if you had perfectly efficient markets, a pickup truck would only bring about $800 in gold. But there is no such thing as a perfectly efficient market.

    There just ain’t enough gold to run the world’s economy. That’s why everyone began abandoning it about 1400 A.D. or so.

  4. #23
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    Quote Originally Posted by Taxcutter View Post
    China is still letting the yuan sink to maintain their price advantage.

    https://economictimes.indiatimes.com...w/63691859.cms

    Notice the date.

    If Europeans bankers are loading up on yuan, they can get a real bargain on Venezuelan bolivares.


    How much gold is there in the world. Warren Buffett says if you melted it all down and cast it into a cube it would be about 20 meters on a side. Rough 171,000 tons. The most optimistic estimates says that is worth about a trillion dollars.

    https://www.bbc.com/news/magazine-21969100

    World GDP is about $78 trillion (if you believe Wikipedia). So all the gold ever mined would only cover about 1.3% of world economic activity if you could keep all that gold in motion.

    So, if you had perfectly efficient markets, a pickup truck would only bring about $800 in gold. But there is no such thing as a perfectly efficient market.

    There just ain’t enough gold to run the world’s economy. That’s why everyone began abandoning it about 1400 A.D. or so.
    There was no need to get rid of Ghaddafi then when he promised to introduce the gold dinar to replace the dollar?

    The way it works is that each coin contains a value of precious metal equal to its worth. The British had the old 6d which contained silver until it was phased out for the new currency. Gold, silver, a commodity of value. Yes, probably all the silver, gold and precious metals in the world couldn’t cover the amount of currency now in circulation because it’s printed pieces of paper of no real value. Its value only lies in what someone else says it’s worth. You could print another ten trillion of dollars tomorrow and all it would produce is much more paper. That’s why countries hoard gold as a commodity and fall-back against a paper collapse.

    Perhaps they know something we don’t.

    Russia and China ‘Furiously’ Buying Up Gold As “a Global Currency Crisis – Albeit Unstated – is Underway”

    Russia Surpasses China With Massive Gold Purchases In January
    Last edited by Pork Chop; 06-13-2018 at 04:39 PM.
    "Liberal stupidity is not a by-product of poverty, race or capitalism; it is a consequence of human nature. It knows no physical or ideological boundaries. A consensus of utter stupidity is the closest mankind will ever reach in achieving equality" - John V

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    No system is perfect as has already been mentioned, but forcing the world to use the dollar benefitted no one one except the US.Let’s not pretend there was any consensus here, it was force. It was a mafia like racket that lasted over forty years and America became extremely wealthy from it. The most advanced military in the world was not built from the profits of a couple of hundred workers.

    Its lasted as long as it has because no one dared challenge it, but as soon as countries felt able, they did. Libya, Iraq and Syria all challenged it and failed. Other countries like China and Russia have successfully challenged it and it’s slowly destroying the dollar profit income dominance. In the last two decades America has spent trillions forcing countries to carry on using the dollar and together with Obama trying to build a utopia its bled itself dry. Trump has now decided to focus instead on economics to compete and looking at it, it’s a complete mess, which is where we are now.

    Trump now has to learn a whole new game called the art of bargaining. If you’re a billionaire businessman like Zuckerberg or Trump, you don’t do art of the deal, you tell people and they do as they’re told, which is why he looks so awkward on the international stage. The tweets, the foot stamping and ripping up agreements are all hallmarks of someone who is used to getting his own way. Yet the voters require him to produce results in the world and so far he’s failing. Countries will find others to trade with, America with a small workforce and outpriced goods will struggle.

    What you’re seeing now, the increased welfare, the poverty, the rising prices is what happened in Britain and Europe decades ago, the ‘deep state’ simply prolonged the agony in America. It’s also partly what provided the ingrained superiority attitude as Americans looked around the world and thought, this just proves we’re the best.

    In between the sound bites and the big picture are lots of if’s, but’s and what’s, but just like Obama’s dream of equality, the idea that without a leading empire the world is doomed is a belief inherent in all empires from the Roman to the USSR. What’s happening now was always going to happen, it was just a matter of time.
    "Liberal stupidity is not a by-product of poverty, race or capitalism; it is a consequence of human nature. It knows no physical or ideological boundaries. A consensus of utter stupidity is the closest mankind will ever reach in achieving equality" - John V

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    Quote Originally Posted by Quark View Post
    Stupid hurts. Hope they didn't get a chance to breed.

    Eh, scratch two living Rodent voters, watch them vote in many future elections.

    Except in Ohio, perhaps.
    Freedom Takes "I Won't". - Eric Frank Russell

    Trump has been President for 412 days and Ruth Bader Ginzberg hasn't had the decency to die. What's up with that?

    Because we have fascists that can't turn this country into Venezuela until the victims are disarmed.



    And some said my other husky avatar was scary.

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    TRUMP has to learn the art of bargaining?

    He seemed to have that lasso around the fat Korean hog's neck pretty securely, this week.

    China came to heel.

    So will Europe and Canada.

    I do so hope Mexico refuses to bargain.

    We don't need their oil, we don't need their junk, and we don't need their damn people.
    Freedom Takes "I Won't". - Eric Frank Russell

    Trump has been President for 412 days and Ruth Bader Ginzberg hasn't had the decency to die. What's up with that?

    Because we have fascists that can't turn this country into Venezuela until the victims are disarmed.



    And some said my other husky avatar was scary.

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    Quote Originally Posted by nonsqtr View Post
    First, I insist that the term "trade wars" is a mischaracterization. People should understand, that a smart Nation like the United States will not Place its National Security in the hands of a potential enemy. We cannot be in a situation where we are dependent on China for 90% of our Steel. We should protect our essential Industries the same way we protect our essential infrastructure, not only things like steel and agriculture, but also now the national information backbone. If others wish to characterize this as a war, or turn it into a war, well, they have to understand that's the whole reason we're doing this, and we will be better prepared as we become more self-sufficient.

    Secondly, I strenuously object to unleashing business, because there is no such thing as American business anymore, except at the small business Mom and Pop level. Every other American corporation is a big multinational, and therefore by definition they have a globalist bent from the get-go. I favor increased checks and balances, not fewer.

    We have dozens of globalist Corporations today which are more powerful than Nations, and it is absolutely within the power of President Trump to break them up. I say that should be done, and quickly. Google needs to be broken up. Facebook needs to be broken up. Microsoft needs to be broken up. I could rattle off a whole long list of at least 50 corporations that need to be broken up RIGHT NOW.

    The whole business of antitrust exemption has become ridiculous. There is way more exemption then there is enforcement. Everyone and their brother has an exemption. Every single Bank, every single insurance company, every single Telecom provider, even the NFL has an exemption for crying out loud.

    BREAK THEM UP!!!

    Centralization, of wealth or capability or any other thing, is NOT a good strategy. A single point of power equals a single point of failure.
    ^Best short answer. We also desperately need what Singapore did in the 1960's, an anti-corruption drive. It hasn't been perfect, but it is far better than nothing, and put Singapore at #8 on the 'least corrupt place to do business' versus the U.S. at #18, and is largely responsible for it's economic success. We can throw in Thomas Jefferson's advice on how to deal with the wave of treason and organized crime now represented by the Democratic Party:

    Every society has a right to fix the fundamental principles of its association, and to say to all individuals, that if they contemplate pursuits beyond the limits of these principles and involving dangers which the society chooses to avoid, they must go somewhere else for their exercise; that we want no citizens, and still less ephemeral and pseudo-citizens, on such terms. We may exclude them from our territory, as we do persons infected with disease.
    Thomas Jefferson to William H. Crawford, 1816

    We're past the point of no return re the above already, and many will just have to face up to that fact; many of these vermin need to go, they aren't ever going to be anything but fifth columnists and sicko deviants.
    Last edited by Oberon; 06-14-2018 at 02:41 AM.

  9. #28
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    At either political extreme are the indoctrinated dumb. Dumbness has no boundaries, it’s universal. You can also hear the same cries based on beliefs in China, N. Korea and Russia.

    Dumbness arises out of blind belief which replace knowledge and logic and it’s universal. It’s true to say that dumbness tends to favour the left because they’re more susceptible to beliefs. Dumbness is the left blaming Trump for Obama’s mistakes, or the right saying that China is of no consequence and then forgetting that the president said it has a huge impact on America’s economy. Or that Trump has N. Korea well under control, but are unable to say why he has had to go to the negotiating table to bargain.

    It’s the bit that makes others scratch their heads when someone says they hate the 'deep state' but cheer on their policies without realising they’re doing it.
    "Liberal stupidity is not a by-product of poverty, race or capitalism; it is a consequence of human nature. It knows no physical or ideological boundaries. A consensus of utter stupidity is the closest mankind will ever reach in achieving equality" - John V

    My Blog: "Change My World"

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    Here's a change the government could accomplish that will act to make America more competitive.

    Reduce the size of the federal government to the point where there are once again more people employed in private sector manufacturing than in the federal government.

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    Quote Originally Posted by Taxcutter View Post
    Here's a change the government could accomplish that will act to make America more competitive.

    Reduce the size of the federal government to the point where there are once again more people employed in private sector manufacturing than in the federal government.
    That definitely has to happen. There’s no point having a big government unless you’re going to do a lot of controlling. Obama needed a big government to make people government dependent, but if Trump is serious then he doesn’t.
    "Liberal stupidity is not a by-product of poverty, race or capitalism; it is a consequence of human nature. It knows no physical or ideological boundaries. A consensus of utter stupidity is the closest mankind will ever reach in achieving equality" - John V

    My Blog: "Change My World"

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